September 2010

Going To A 15 Year Fixed Mortgage

by Ed on September 6, 2010

 With mortgage interest rates at amazing lows, I (Ed) figured now is the time for 15 year fixed rate refinance: I have a 30 year fixed rate mortgage with about 23 years and ~$156,000 left. With the 15 year fixed rate mortgages at about 3.7%, I have started to look into a refinance. My current mortgage 30 fixed Interest rate 5.875% Amount left $156,000 Years left 23 Monthly payment (principle & interest) $1010 Taxes 5k per year Total monthly payment (with PMI) $1,553 New mortgage 15 fixed Interest rate 3.875% Amount left $159,000 ($3000 for fees) Years left 15 [...]

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